Jubilee Sailing Trust Limited – administration

Jubilee Sailing Trust Limited, a subsidiary of charity Jubilee Sailing Trust (the Charity), entered administration on 26 August. The principal asset of the Company is the tall ship Lord Nelson, which will be marketed for sale as part of the administration. It is one of only two tall ships in the world designed to be sailed by a mixed ability crew. The director put the Company into administration due to creditor pressure following a reduction of income to the Charity and rising costs during the Covid-19 pandemic. Richard Lewis and Sarah O’Toole of Grant Thornton were appointed joint administrators. Creditors with registered charges include The Chadwick Charitable Trust, National Westminster Bank PLC, LMS Distribution Limited and the Charity.